Direxion Daily Small Cap Bear 3x ETF
TZA
37 hedge funds and large institutions have $40.9M invested in Direxion Daily Small Cap Bear 3x ETF in 2026 Q1 according to their latest regulatory filings, with 13 funds opening new positions, 11 increasing their positions, 7 reducing their positions, and 7 closing their positions.
86% more first-time investments, than exits
New positions opened: 13 | Existing positions closed: 7
57% more call options, than puts
Call options by funds: $18.3M | Put options by funds: $11.7M
57% more repeat investments, than reductions
Existing positions increased: 11 | Existing positions reduced: 7
33% more capital invested
Capital invested by funds: $30.7M → $40.9M (+$10.2M)
19% more funds holding
Funds holding: 31 → 37 (+6)
0.27% more ownership
Funds ownership: 1.05% → 1.32% (+0.27%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
+$4.8M |
| 2 |
UBS Group
Zurich,
Switzerland
|
+$3.26M |
| 3 |
Jane Street
New York
|
+$2.91M |
| 4 |
FTUS
Flow Traders U.S.
New York
|
+$2.84M |
| 5 |
CL
Choreo LLC
Rockford,
Illinois
|
+$1.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JF
Jump Financial
Chicago,
Illinois
|
-$5.31M |
| 2 |
VF
Virtu Financial
New York
|
-$4.01M |
| 3 |
TSS
Two Sigma Securities
New York
|
-$2.09M |
| 4 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$1.53M |
| 5 |
GS
GTS Securities
Miami,
Florida
|
-$269K |
TZA Hedge Fund Activity: Q1 2026 in Review
37 of the 8,191 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily Small Cap Bear 3x ETF (TZA) for Q1 2026, worth a combined $40.9M — up 33% from $30.7M a quarter earlier.
Buyers outnumbered sellers: 13 funds opened new TZA positions and 7 closed out — a net gain of 6 holders — while 11 added to existing stakes and 7 trimmed.
The largest buyer was Citadel Advisors, adding an estimated $4.8M. The largest seller was Jump Financial, cutting an estimated $5.31M.
- 37 institutional investors held Direxion Daily Small Cap Bear 3x ETF (TZA) as of Q1 2026, up from 31 in Q4 2025.
- Funds reported $40.9M of Direxion Daily Small Cap Bear 3x ETF stock for Q1 2026, up 33% quarter-over-quarter.
- 13 funds opened new Direxion Daily Small Cap Bear 3x ETF positions in Q1 2026 and 7 closed out, a net change of +6 holders.
- The largest Direxion Daily Small Cap Bear 3x ETF buyer in Q1 2026 was Citadel Advisors, an estimated $4.8M added.
- The largest Direxion Daily Small Cap Bear 3x ETF seller in Q1 2026 was Jump Financial, an estimated $5.31M sold.
Based on aggregated 13F filings for Q1 2026.